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Gold Resource Corp Advances Mexican Exploration

By Joel ScanlonJun 22 2011

Having discovered a high grade vein system at its Mexican mine Gold Resource Corporation has decided to proceed with the El Rey mine underground exploration program. It will also be advancing its new underground exploration program at the Alta Gracia property. The company made a statement to this effect on Tuesday.

Gold Resource Corporation is focused on developing select high grade gold and silver projects which are low cost operations. They have 100% stake in four such properties in the southern state of Oaxaca in Mexico of which El Rey and Alta Gracia are two. The company's remaining properties are El Aguila, Las Margaritas, El Chamizo and Solaga.

Previous exploration at the El Rey property in 2008 had revealed prominent gold veins along with some silver. One vein at 9 meters was of 19.4 grams per tonne of gold and another one meter of 66.4 grams per tonne of gold. The new exploration program would refurbish and extend the existing shaft and drive two development drifts along the two veins encountered.

Jason Reid the President of the company said that the Alta Gracia veins previously mined by others may be located higher up in the mineralized horizon. He added that with exploration at depth they could find a situation similar to La Arista where the mineralization begins 100 meters below the surface as a function of boiling point.

Written by

Joel Scanlon

Joel relocated to Australia in 1995 from the United Kingdom and spent five years working in the mining industry as an exploration geotechnician. His role involved utilizing GIS mapping and CAD software. Upon transitioning to the North Coast of NSW, Australia, Joel embarked on a career as a graphic designer at a well-known consultancy firm. Subsequently, he established a successful web services business catering to companies across the eastern seaboard of Australia. It was during this time that he conceived and launched News-Medical.Net. Joel has been an integral part of AZoNetwork since its inception in 2000. Joel possesses a keen interest in exploring the boundaries of technology, comprehending its potential impact on society, and actively engaging with AI-driven solutions and advancements.

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